Explanatory note

This Order amends the Building Societies (Designation of Qualifying Bodies) Order 1988, which designates corporate bodies and typesof corporate body as suitable for investment and support or for support by building societies under section 18 of the Building Societies Act 1986.

The Order adds a body corporate described as County Court Users Association to the list of designated bodies, as suitable for investment and support by a building society, or for support in the absence of investment (article 3 at (c)).

Investment is defined by section 18 of the Act as acquiring and holding shares in and forming, or taking part in forming, bodies corporate. Support is defined by that section as the provision of loans, grants, guarantees, services or property to bodies corporate.

The permitted purposes, for investment or support by society, include the making of representations on county court procedures and the law relating to them in England and Wales.